Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0263%/8h= −28.8% APRpaid last 24h −0.069%

Price spread now: KuCoin against Kraken Futures−0.015%52s7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.356% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now −0.015%, 7d avg +0.014%

Together, before fees−0.069%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and KuCoin is 0.028% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.014%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.089% in total (about -4.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAGUSD	65.370	0.0363	pay 0.0045% / 1h	47m 28s	$1.0M	$869K	25x
Short	KuCoin XAGUSDTM	65.360	0.0100	get 0.0050% / 4h	47m 28s	$25.3M	$5.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$55.19
Price spread: −0.015% → +0.014%: −$2.85
Slippage, 4 orders: −$13.61
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$93.64
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; KuCoin: live order book, 11 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 1 min ago	3.16 bp	9.0 bp −$9	17.8 bp −$178	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	0.76 bp	8.7 bp −$9	17.5 bp −$175	doesn't fit	doesn't fit

XAG on 44 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff SILVER-PERP	−0.0088%	1h	65.353	−0.025%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0041%	1h	65.280	−0.137%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.348	−0.033%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.410	+0.062%	$27.8M	$39.6M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.400	+0.047%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.440	+0.108%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.390	+0.031%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.334	−0.054%	$118K	—	250x	as long as short
Variational Omni XAG	+0.0016%	4h	65.312	−0.088%	$5.5M	$9.1M	—	as long as short
Aster XAGUSDT	+0.0031%	4h	65.400	+0.046%	$2.7M	$951K	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.396	+0.040%	$4.6M	$9.7M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.338	−0.049%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.576%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0034%	4h	65.410	+0.062%	$141.2M	$176.9M	100x	as long as short
MEXC SILVER_USDT	+0.0040%	4h	65.390	+0.031%	$117.6M	$157.0M	1000x	as long as short
StandX XAG-USD	+0.0040%	1h	65.400	+0.047%	$787K	$2.9M	40x	as long as short
Binance XAGUSDT	+0.0041%	4h	65.401	+0.048%	$191.8M	$760.9M	100x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.390	+0.031%	$152K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.805	+0.666%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.370	+0.001%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.339	−0.047%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.379	+0.014%	$29K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0056%	1h	65.380	+0.016%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0057%	4h	65.317	−0.081%	$665K	$313K	30x	as long as short
Phoenix SILVER	+0.0061%	1h	65.281	−0.136%	$56K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0073%	1h	65.360	−0.015%	$169.9M	$81.6M	25x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.359	−0.016%	$481K	$31.8M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.360	−0.015%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.334	−0.054%	$469K	$612K	10x	as long as short
KuCoin XAGUSDTMshort	+0.0100%	4h	65.360	−0.015%	$25.3M	$5.0M	75x
ApeX Omni XAGUSDT	+0.0100%	1h	65.300	−0.106%	$112K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.406	+0.056%	$1.2M	$4.9M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0134%	4h	65.317	−0.081%	$384K	$1.6M	25x	as long as short
BloFin XAG-USDT	+0.0164%	4h	65.360	−0.015%	$2.7M	$583K	100x	as long as short
Bitget XAGUSDT	+0.0166%	4h	65.400	+0.047%	$23.7M	$45.2M	100x	as long as short
Nado XAG-PERP	+0.0168%	1h	65.359	−0.016%	$1.2M	$4.8M	10x	as long as short
Lighter XAG	+0.0168%	1h	65.400	+0.047%	$5.3M	$11.1M	25x	as long as short
Hibachi XAG/USDT-P	+0.0168%	1h	65.350	−0.030%	$20K	$17K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0175%	8h	65.390	+0.031%	$28.1M	$70.3M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.380	+0.016%	$65K	$387K	20x	as long as short
Aftermath Perps XAGUSD	+0.0210%	1h	65.326	−0.067%	$79K	$37K	10x	as long as short
Bullet SILVER-USD	+0.0233%	1h	65.410	+0.062%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.405	+0.054%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0363%	1h	65.370	long leg	$1.0M	$869K	25x